Insurer Gothaer Asigurari Reasigurari’s business in Romania increased by 90 percent in the first half of this year compared to the same period in 2012.  The company’s total volume of gross written premiums reached EUR 6.1 million (RON 27 million) during this period, it recently announced.

On the Casco car insurance segment, the insurer has written premiums of around EUR 2 million (RON 9 million) in the first six months of this year, holding a market share of 1.07 percent on the car segment. On the property insurance segment, the company recorded a significant year-on-year increase of 291 percent in the first half of 2013, accumulating a volume of gross written premiums of over EUR 2.7 million (RON 12 million).

In the agricultural sector, the insurer increased its market share to 11.6 percent in 2013, from 6.5 percent last year, according to the company.

“We continue to develop our business in the retail area, as well as on the SMEs segment, with a business plan built on well-defined strategies in order to reach a consolidated and sustainable volume of written premiums,” said Anca Babaneata (in picture), CEO Gothaer Asigurare Reasigurari.

Gothaer Finanzholding AG took over the majority of shares in Gothaer Asigurari Reasigurari - former Platinum, the rest being hold by Constantin Toma, president of Gothaer Asigurari Reasigurari’s board, and Efraim Naimer, member of the board.

Gothaer currently has 180 employees in Romania and had gross subscribed premiums of EUR 8.4 million in 2012, after EUR 4.3 million in 2011.

Gothaer Group’s gross written premiums rose 3.2 percent in 2012, to EUR 4.1 billion, from around EUR 4 billion the year before. According to the company, all segments contributed to the Group's growth: property/casualty grew 2.9 percent, life 3 percent and health insurance 4.3 percent.

Irina Popescu, irina.popescu@romania-insider.com

(photo source: the company)